What Is NKN? Review and Future Price Forecast 2023
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What Is NKN? Review and Future Price Forecast 2023

A young project named NKN (New Kind of Network) wants to lead “internet revolution”. Its team is developing a project to change the architecture of the Internet for its decentralization and better security.

NKN is a new kind of network connectivity protocol & ecosystem powered by blockchain for an open, decentralized, and shared Internet. That’s how its creators describe the innovative technology.

The NKN team aren’t common guys. The idea of changing the principles of the functioning of Internet technologies has brought together 12 scientists who made a weighty contribution to Linux, Microsoft, Google, and Oracle development. A few projects may boast such scientific potential.

New Kind of Network

NKN’s goal is to ensure the operation of a decentralized data network. It is aimed at ensuring maximum decentralization of the network which consists of independent nodes, namely “cellular automata”. In addition, the technology offers a new solution for blockchain scalability, which is based on the mechanism of Proof of Relay (proof of transmission).

NKN (New Kind of Network) operated on the Firefox testnet launched on June 16, 2018. Mainnet V. 1.0 (Narwhal) was introduced July 1, 2019. So, the platform is still at the maturation stage. The mainnet has over 16,000 consensus nodes which function on the basis of MOCA consensus algorithm, which features horizontal scalability and supports arbitrary quantity of consensus nodes.

Future Prospects of NKN

Today, this is the most technologically backed up and theoretically grounded project for decentralizing Internet. But let’s look at the situation from different angles.

Positive factors:

  1. A team of talented scientists
  2. A novel technology, not only in words but also in deeds
  3. Relevance, as the Internet increasingly feels the need for decentralization
  4. The promised transition to mainnet made a big difference

Furthermore, several progressive NKN-based products have been released. The most prominent ones include nCDN (a solution for CDN, a geographically distributed network of proxies and data centers), D-Chat (a decentralized messaging app with end-to-end encryption), Space Cats (3D action multiplayer game without servers).

Negative factors:

  1. Marketing—marketing policy is feeblish
  2. Poor interactivity—the website and the accompanying documentation are hardly understandable for ordinary users and blockchain enthusiasts
  3. Inadequate accessibility—there are no explanatory work on the advantages of the project among regular users

NKN Cryptocurrency

In May 2018, before launching the testnet, the world had seen NKN’s cryptocurrency, which fuels the platform. It was created on NEP-5 protocol. NKN is used a reward to network participants who act as “network cells” that transmit information.

The token is now traded on Gate.io, Huobi Global, BCEX, IDEX, Upbit, MXC, Bilaxy, and Switcheo Network exchanges. Its starting price was about $0.37. October 10, 2019, Binance commenced Community Coin Vote featuring NKN and its contestant VIDY. NKN won the contest and was listed on the Changpeng Zhao’s exchange.

NKN Price Prediction 2022-2023

We always look positively at the cryptocurrencies created for ensuring the operation of the blockchain platforms, as this provides some level of demandingness. But the altcoin’s growth and investment attractiveness depends on many factors.

Growth-conducive factors:

  1. Innovational platform with an excellent base
  2. Reliable brigade of developers
  3. Listing on flagship exchanges
  4. Forthcoming altcoin season

Unconducive factors:

  1. Poor information about NKN coin
  2. Technology is not understood by simple users and investors
  3. NKN use is “intranetwork”, which decrease chances for enormous price surge

Let’s draw conclusions. The project is powerful. It seems to be the most thoughtful and reasonable in comparison with competitors.

But the developers probably forgot why they started work on the project. Sometimes it seems they treat it solely as a scientific work. It’s time to remember that the successfulness is contingent on ordinary users, not researchers. What about creating the “NKN in simple words” section on the project’s web-site?

NKN value in 2022-2023 will depend on the market situation. Adding the coin into Binance was a tipping point for it, followed by rigid price breakthrough (about 200% per 24-hour period).

See our price forecast in the table below.

Period NKN Price Prediction
Winter 2022 $0,05
Early 2023 $0,09
Mid 2023 $0,2–0,35

Disclaimer: NKN is still a young project. Its team can either draw the right conclusions or lose its potential. This will greatly affect future price of NKN. Analyze the project documentation and news independently. Perhaps your conclusions will differ from ours.